First Mercantile Trust Co. decreased its holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 48.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,050 shares of the information technology service provider’s stock after selling 4,700 shares during the quarter. First Mercantile Trust Co.’s holdings in Cognizant Technology Solutions were worth $359,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Stephens Inc. AR acquired a new stake in Cognizant Technology Solutions in the 4th quarter worth about $559,000. Alps Advisors Inc. increased its holdings in Cognizant Technology Solutions by 12.2% in the 4th quarter. Alps Advisors Inc. now owns 19,458 shares of the information technology service provider’s stock valued at $1,382,000 after buying an additional 2,120 shares during the period. Calton & Associates Inc. bought a new position in Cognizant Technology Solutions in the 4th quarter valued at about $504,000. Deltec Asset Management LLC increased its holdings in Cognizant Technology Solutions by 20.8% in the 4th quarter. Deltec Asset Management LLC now owns 36,250 shares of the information technology service provider’s stock valued at $2,574,000 after buying an additional 6,250 shares during the period. Finally, American Century Companies Inc. bought a new position in Cognizant Technology Solutions in the 4th quarter valued at about $4,326,000. Institutional investors and hedge funds own 86.87% of the company’s stock.

In other Cognizant Technology Solutions news, Vice Chairman Chandrasekaran Ramakrishnan sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $75.44, for a total transaction of $1,886,000.00. Following the sale, the insider now directly owns 271,300 shares of the company’s stock, valued at approximately $20,466,872. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Debashis Chatterjee sold 1,726 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $79.00, for a total transaction of $136,354.00. Following the sale, the insider now directly owns 39,253 shares in the company, valued at $3,100,987. The disclosure for this sale can be found here. Insiders have sold a total of 994,079 shares of company stock worth $73,129,749 over the last ninety days. 1.08% of the stock is currently owned by insiders.

Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at $76.29 on Monday. The stock has a market cap of $44,984.02, a P/E ratio of 30.15, a P/E/G ratio of 1.53 and a beta of 1.11. The company has a current ratio of 3.21, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07. Cognizant Technology Solutions Corp has a 1-year low of $57.00 and a 1-year high of $79.28.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.15. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.82 billion. Cognizant Technology Solutions had a net margin of 10.15% and a return on equity of 19.94%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 EPS. research analysts anticipate that Cognizant Technology Solutions Corp will post 3.97 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Thursday, February 22nd will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, February 21st. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 1.05%. Cognizant Technology Solutions’s payout ratio is 23.72%.

Several equities analysts have commented on CTSH shares. Robert W. Baird raised their target price on shares of Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, October 19th. Barclays raised their target price on shares of Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, October 30th. They noted that the move was a valuation call. Citigroup raised their target price on shares of Cognizant Technology Solutions from $73.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Cantor Fitzgerald reissued a “buy” rating and issued a $78.00 target price on shares of Cognizant Technology Solutions in a report on Wednesday, November 1st. Finally, Oppenheimer reissued a “buy” rating and issued a $80.00 target price on shares of Cognizant Technology Solutions in a report on Wednesday, November 1st. Six research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. Cognizant Technology Solutions currently has a consensus rating of “Buy” and an average target price of $84.21.

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Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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